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Auto Insurance

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167 views4 pages

Auto Insurance

Uploaded by

kingsupreme21xd
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Name:

Spanish copy of Auto Insurance.docx

Students will be able to:


● Explain a deductible, out-of-pocket expenses, and what insurance will pay for in different situations
● List factors that determine auto insurance premiums
● Describe the main types of auto insurance policies and compare state requirements
● Choose an appropriate level of car insurance coverage

INTRO

QUESTION OF THE DAY: How much does a texting while driving ticket increase auto
insurance premiums?
Answer the question on the first slide in the space below. Then, compare your answer to the
answer on the second slide. Finally, follow your teacher’s directions on how to answer the
follow-up questions on the last slide.

1. How much does a texting while driving ticket increase auto insurance premiums?

27% or $516 yearly

LEARN IT

VIDEO: 5 Factors That Affect What You Pay for Auto Insurance
Everyone pays a different amount for auto insurance. Watch this video to learn five key factors that
influence how much you’ll pay. Then, answer the questions.

1. Complete the sentences in the chart as you watch.

Factor that affects


Effect on what you pay
your insurance

Your deductible The upside to having a high deductible is…


Choosing a higher amount could save you 9%
The downside to having a high deductible is…
That you’ll have to pay that amount out of your pocket
before your insurer pays for covered repairs

1
Your vehicle In general, the (more/less) your car is worth, the
(more/less ) you’ll pay to insure it.

Your mileage You pay more for insurance coverage if you drive a lot
because…
The more time you spend on the road the more likely you
are to get into an accident which is why the number of
miles you drive each year affects your auto insurance

Your driving history One speeding ticket can raise your auto insurance rate by
nearly…
30%

One DUI can…


Double your rate or more depending on where you live

Your personal Which drivers generally pay more?


information
Younger drivers especially men pay more than older
drivers and being married can also drive down your rate.

2. Can you think of any other factors, not listed above, that could influence your auto
insurance premiums?

Credit history, previous coverage, and geographically

LEARN IT

ARTICLE: Deductibles and Coverage Limits


In every auto accident, after asking, “Is everyone safe?”, one of the most important questions you
may want answered is, “Who pays?” Understanding your deductible and coverage limits is crucial
to determining that. Review the explanations and examples in this article, and then determine
“Who pays?” in these sample scenarios.

Important Note: This resource reflects this information but does not directly address it: For auto
insurance, if the insurance claim is a liability, where the insured driver has harmed another
person and/or damaged another person’s property, the insured driver does NOT owe a

2
deductible; insurance covers the entire bill up to the coverage limit. If the insurance claim is to
replace or repair the insured driver’s own property, the insured driver WILL typically owe a
deductible.

1. Norris has a deductible of $1,000. He damages his car in an accident and it will cost
$3,300 to repair.
a. How much does Norris have to pay?
$1,000
b. How much does his insurance pay?
$2,300

2. Alicia has a collision deductible of $500 and a Bodily Injury Liability coverage limit of
$50,000. She hits another driver and injures them severely. The case goes to trial and
there is a verdict to compensate the injured person for $40,000.
a. How much does Alicia have to pay?
$500
b. How much does her insurance pay?
$40,000

3. Just before the accident, Alicia actually reduced her policy from $50,000 to $25,000.
a. How much does Alicia have to pay?
$500
b. How much does her insurance pay?
$39,500

ARTICLE: Minimum Car Insurance Requirements by State


Another component of having auto insurance is knowing what your state's requirements are.
Each state requires drivers to carry different levels of insurance to be legally allowed to drive.
Review the information and answer the following questions.

1. Locate your state and list its insurance requirements. What does each of those
requirements mean?
$30,000 bodily injury liability per person
$60,000 bodily injury liability per accident
$25,000 property damage liability per accident
$30,000 uninsured motorist coverage per person
$60,000 uninsured motorist coverage per accident
$25,000 uninsured motorist property damage coverage per accident
2. Does your state have comparatively strict or lenient requirements for auto insurance
coverage?

No

3
3. If you could choose, would you prefer to live in a state with strict or lenient
requirements for auto insurance coverage? Why?

I would choose the lenient requirements because if I lived in a strict state then I would be
mad at all of the rules

4. Almost every single state requires drivers to have liability coverage. Why do you think
that is the case?

Because it helps protect individuals involved in accidents that aren’t their fault

DO IT

ACTIVITY: PLAY: Types of Car Insurance


Auto insurance is a little bit like a build-your-own meal restaurant. Each type of coverage is offered
individually at its own stated premium, and you choose the combination of coverages required by
your state plus any additional coverages you select yourself to make one customized policy. Follow
your teacher's instructions to complete this activity.

EXIT TICKET

In your mind what is the most important type of car insurance to


have and why?
I think that the most important kind of car insurance to have is uninsured/underinsured coverage. The reason
why I say that is because there are some people out there that don’t have the insurance that you need to cover
your medical bills so this is a good choice to have.

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